[144 Pages Report] The global digital utility market was valued at USD 121.54 Billion in 2016 and is expected to grow at a CAGR of 12.57%, from 2017 to 2022. An increase in the number of distributed and renewable power generation projects, energy efficiency mandates demanding carbon emission reduction, and strict regulatory requirements for electric utilities are the major drivers that would trigger growth in the digital utility market.

The years considered for the study are as follows:

Base Year: 2016

Estimated Year: 2017

Projected Year: 2022

Forecast Period: 2017 to 2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

To define, describe, and forecast the global digital utility market by network, technology, and region

To provide detailed information on the major factors influencing the growth of the digital utility market (drivers, restraints, opportunities, and industry-specific challenges)

To strategically analyze the market with respect to individual growth trends, future prospects, and contribution of each segment to the market

To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders

To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market

Research Methodology

This research study involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical, market-oriented, and commercial study of the global digital utility market. Primary sources are mainly industry experts from core and related industries, OEMs, vendors, suppliers, technology developers, alliances, and organizations related to all segments of this industrys value chain. The points given below explain the research methodology.

Study of the annual revenue and market developments of the major players providing digital utility solutions

Analysis of digital transformation for electric utilities

Assessment of future trends and growth of the digital utility market

Assessment of the market with respect to the demand for each type of digital technology used for different applications

Study of market trends in various regions and countries, by network, of the digital utility market

Study of contracts and developments related to digital utility by key players across different regions

Finalization of overall market sizes by triangulating the supply-side data, which includes product developments and annual revenues of companies providing digital utility solutions across the globe

After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure given below illustrates the breakdown of primaries conducted during the research study on the basis of company type, designation, and region.

Regional Analysis

Company Information

The global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022, to reach a market size of USD 244.31 Billion by 2022. An increase in the number of distributed and renewable power generation projects, energy efficiency mandates demanding carbon emission reduction, and strict regulatory requirements for electric utilities will drive the digital utility market during the forecast period.

The report segments the digital utility market, by network, into generation, transmission and distribution, and retail. The transmission and distribution subsegment dominated the network segment as it accounted for the largest part of the spending on aged infrastructure. New digital devices and communications and control systems improve the efficiency of assets and increase the ability of operators to monitor and manage electric transmission and distribution systems.

Based on technology, the digital utility market is segmented into integrated solutions and hardware. Hardware is the largest segment of the digital utility market, by technology. Hardware covers all the equipment in a digital substation, such as smart meters, smart thermostats, programmable logic controllers, and smart transformers, among others. The cost of hardware is high and, hence, the segment accounts for a larger share of the market.

In this report, the digital utility market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market in North America is expected to lead the global digital utility market during the forecast period, due to the upgradation of aging infrastructure and increase in electricity demand in the region.

Upcoming smart cities and a need to improve the productivity and efficiency of power utilities can lead to opportunities in the digital utility market. But, high initial costs could be a restraint for the market, leading to declining profits.

Some of the leading players in the digital utility market include Accenture plc (Ireland), Cap Gemini S.A. (France), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), and International Business Machines Corporation (U.S.), among others. Contracts & agreements and new product launches were the most adopted strategies by players to ensure their dominance in the market.

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